Digital Transformation, Explained: What It Means for Automated Document Processing

<strong>Digital Transformation, Explained: What It Means for Automated Document Processing</strong>

Technology is advancing at a rapid rate. Today, we have access to technologies that were unimaginable fifty years  — or even twenty-five years — ago, and everyone, including customers, business partners, and employees, wants an increasingly digital experience.

For many organizations, it’s time for digital transformation. Businesses and organizations in every industry and sector are embarking on the digital transformation process, which means adopting a new approach to everything from their business model to their internal processes and operations. 

It isn’t necessarily easy, and choosing the wrong technology can actually be a step backward and create more problems than solutions.

The desire for digital transformation is changing the document processing industry for the better. Outdated, template-based solutions are no longer enough for document processing providers (or their customers), so automated document processing has become a top priority.

Let’s dive into what digital transformation means for automated document processing, as well as how automated document processing can help organizations undergo a digital transformation.

What is Digital Transformation?

Digital transformation is a broad term, so there are a few definitions floating around.

According to IBM, digital transformation means “taking a customer-driven, digital-first approach to all aspects of a business, from its business models to customer experiences to processes and operations. 

Digital transformation uses AI, automation, hybrid cloud, and other digital technologies to leverage data and drive intelligent workflows, faster and smarter decision-making, and real-time response to market disruptions.”

From an academic perspective, MIT Sloan Management Review believes the phrase is a bit of a misnomer. Instead, digital transformation should be “thought of as continual adaptation to a constantly changing environment.”

No matter the definition, it’s clear that digital transformation has significantly impacted document processing solution providers and their users. Digital transformation is why we’re more digital than ever. 

It’s also why some document processing platforms are moving away from things like optical character recognition (OCR) and template-based solutions and towards more intelligent, automated solutions.

After all, the ultimate goal of digital transformation is to give businesses a solid technical and operational foundation they need to continue growing in today’s ever-changing world — and that means becoming more digital and adapting increasingly advanced technologies whenever possible. 

With the help of advanced technologies, businesses can optimize processes, improve the customer experience, reinvent business models, and much more.

How Digital Transformation Works in Modern Automated Document Processing

When it comes to modern automated document processing, digital transformation has undeniably had a major impact.

In the past, all organizations worldwide had to process documents manually. Not only was this a slow, frustrating process for the workers assigned the daunting task of manually processing piles of papers each day, but it was also often riddled with errors. 

After all, people make mistakes, especially when doing tedious tasks like transcribing numbers from one file to another. However, thanks to digital transformation, manual document processing became an option instead of a necessity.

OCRs and template-based document processing systems hit the market, promising easier, faster, and more accurate document processing. Unfortunately, they couldn’t quite live up to expectations. 

Using OCR and template-based platforms to process documents was faster than doing everything manually, but these technologies weren’t 100% accurate. 

As a result, they required quite a bit of manual revisions. These systems could not read and understand documents if they weren’t in a specific format, which meant hours of reformatting existing documents or new template creation.

Here, again, digital transformation and users’ need for a fast, accurate, hands-off document processing solution pushed providers to use things like artificial intelligence (AI), computer vision, neural networks, and more to create more advanced document processing solutions.

The Benefits of Using Digital Transformation in Modern IDP Solutions

Taking a digital-first approach has allowed providers to disrupt the document processing market. Before, with OCR or template-based platforms, staff members regularly needed to convert existing documents into a format that the system could process or create new templates. 

This required lots of time, human resources, and money. Plus, it led to employee burnout and high turnover rates. On top of that, these traditional document processing systems made mistakes that caused inconveniences and required manual revision.

However, putting customers’ needs first and embracing advancements like AI and neural networks led to document processing system providers stepping up their game. 

Today’s solutions are far faster and more accurate than their template-based platforms. They can read and understand documents with high accuracy, regardless of format. 

This also means that modern document processing solutions are more automated than traditional document processing technologies, as there’s no need to create new templates or reformat existing documents.

And just as digital transformation has benefited modern IDP solutions, modern IDP solutions can help organizations seeking to undergo digital transformation. The AI in modern document processing solutions makes them smarter and able to automate much more than OCR or template-based platforms. 

This enables organizations to reassign employees to more productive and personally fulfilling tasks. Plus, since they don’t require as much manual work, modern IDP solutions are also more scalable, which means businesses can continue to use the same document processing system as they grow.

Start Your Digital Transformation With Rossum’s Advanced Document Processor

Organizations undergoing digital transformation need to find document processing providers that have already adopted a digital transformation mindset to get the most out of their document processing technology. 

This will enable them to take advantage of the best, most advanced document processing solutions and make investing in and learning a new tool worthwhile. 

After all, document processing providers focusing on digital transformation will likely have abandoned traditional OCR and other template-based document processing solutions long ago in favor of a new and improved solution.

At Rossum, we’ve embraced the latest technologies. Our platform leverages artificial intelligence, machine learning, neural networks, and more to create the best possible document processing solution. 

Rossum is fast and accurate — no exhaustive manual processing is required. With Rossum, you’ll save time, money, and energy and see a quick return on your investment.

Ready for your digital transformation? Check out Rossum’s 14-day free trial, and read this article to gain a better understanding of when it’s time for digital transformation.

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Rossum’s intelligent document processing solution can help you on your journey to digital transformation. Reach out today!